Choosing the Right Dimension of Purity
Croda
Medivation laid off 23 employees yesterday to cut costs after Dimebon, the Alzheimer’s disease drug the firm is developing with Pfizer, failed to hit efficacy endpoints in a pivotal Phase III study.
The San Francisco, US headquartered firm said that the cutbacks, equivalent to 20 per cent of its workforce, were necessary “to manage our portfolio, operations and cash flow.”
Medivation CEO David Hung said that: “Our top priority is further analysis of the CONNECTION data to better understand the impact on the development of dimebon for Alzheimer’s and Huntington’s disease.”
Hung added that the firm’s other prorities include completing recruitment in two ongoing Dimebon trials and a study examining its oncology candidate MDV3100 in men with castration-resistant prostate cancer.
